Cogeco has been growing earning for the last several years (with the exception of 2016) and the growth is shown in the strong rising trend. Over the last year the price has been rising strong within a channel.
The recent pullback has pulled back toward the bottom of the channel. THat in itself that just alerts me that the price may be in a possible trade area. Now, the price is consolidating and will near to break back above the highs of that consolidation in order to signal a long trade and a likely rally back toward the top of the channel.
Stop Loss is placed a bit below the consolidation, if the trade triggers. An ATR Stop could also be used as a trailing stop loss, but because the price is moving in such a well-defined pattern, the trailing SL is not recommended in this case...just exit near the top of the channel.
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Still waiting for entry trigger. No trade yet.
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No trade (didn't pop up to the entry price), and the sharp drop MAY eliminate this as a trading candidate. We will need to see how the price bars unfold over the next few days. Could be a while before we see another opportunity.